Big-ticket investment soon at Pithampur: Industry minister

Alkem Laboratories plans to invest about Rs 700 crore and will set up a unit in Pithampur special economic zone (SEZ), state industry minister Rajendra Shukla said on Thursday. The government is allocating 40-acre land in the SEZ for which the company has already deposited 25% of the amount, he said.

AKVN officials said that 3,000 acre developed land has been allocated to the industries while an additional 1,500 acre land is under development,(HT file photo)

Alkem Laboratories plans to invest about Rs 700 crore and will set up a unit in Pithampur special economic zone (SEZ), state industry minister Rajendra Shukla said on Thursday. The government is allocating 40-acre land in the SEZ for which the company has already deposited 25% of the amount, he said.

Shukla was in Indore to review the status of investment proposals made during the global investors summit held in Indore in October 2016.

Ajanta Pharma, which plans to invest about Rs 400 crore, has applied for 32-acre land.

Syntex Ltd also plans to set up an auto ancillary unit and has applied for 200-acre land. Mylan Pharma is also setting up a unit in SEZ while Patanjali group has been allocated 40-acre land in Pithampur.

The Audyogik Kendra Vikas Nigam (AKVN), Indore is also in the process of allocating land to Cadila, Hettich, Ceat Tyre and Shrinath Packers.

AKVN managing director Kumar Purushottam said that work on infrastructure development of smart industrial project on 1,200-acre land near Pithampur is also progressing smoothly. He also gave a presentation on the other development works including the Rs 300 crore Narmada water supply project to Pithampur.

The minister also reviewed the progress of expansion of the Crystal IT SEZ in Indore. The minister was told that at present four private companies - TCS, Infosys, Impetus and Infobeans - are developing IT SEZ in the city.

AKVN officials said that 3,000 acre developed land has been allocated to the industries while an additional 1,500 acre land is under development. The AKVN has allocated 150 acre land after investors meet in October and aims to allocate an additional 350 acres by March.